InfoSAWIT, JAKARTA – The crude palm oil (CPO) price at PT Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom increased to IDR 15,656/kg on Monday (December 2, 2024). This marks a 0.69% rise, equivalent to IDR 108/kg, compared to the previous Friday's price (November 29, 2024), which stood at IDR 15,548/kg.
According to information obtained by InfoSAWIT from KPBN, the prices for Franco Belawan and Dumai were set at IDR 15,656/kg, while in Talang Duku, the price was recorded at IDR 15,456/kg.
Meanwhile, palm oil futures on the Malaysian exchange declined on Monday, ending a five-session winning streak. This was attributed to weaker soybean oil prices on the Dalian and Chicago boards, as well as reduced export figures for November.
The benchmark palm oil contract for February 2025 delivery on the Bursa Malaysia Derivatives Exchange fell by MYR 62 per ton, or 1.24%, to MYR 4,958 (US$1,112.41) per metric ton at the close of trading.
Monthly Performance and Soybean Oil Dynamics
Despite Monday's decline, palm oil prices rose 6.9% in November, marking the fourth consecutive monthly gain. On the Dalian Commodity Exchange, the most active soybean oil contract dropped 0.98%, while palm oil futures increased by 1.31%. Meanwhile, soybean oil prices on the Chicago Board of Trade slipped 0.34% as trading resumed following the Thanksgiving holiday.
KPBN Tender Results (Excluding VAT) for Monday (Dec 2, 2024):
CPO Prices (IDR/kg):
- Franco Belawan & Dumai: IDR 15,656 (MM, IBP)
- Talang Duku: IDR 15,456 (MM, T2)
These figures highlight the contrasting trends in domestic and international palm oil markets, reflecting the complex dynamics influencing commodity prices globally. (T2)
